Pennsylvania Life Insurance

wise coverage decisions.

This page:

  • Briefly describes Pennsylvania life insurance regulations.

  • Explains the Pennsylvania Guaranty Association's protection.

  • Links to more information on life insurance in Pennsylvania.

Save up to 75% on life insurance. The key to saving on life insurance lies in comparing quotes and policies from as many carriers as possible. Use our fast and free comparison service to get quotes from all the major carriers in your state, and see how much you can save! Start here.

Pennsylvania life insurance rights and regulations

The insurance industry in Pennsylvania is regulated under Title 31 of the Pennsylvania Code. These codes outline claims procedures and policy requirements for the benefit and protection of you, the consumer.

One such consumer protection is the 10-day "free look" provision contained, by law, in every Pennsylvania life insurance policy. During this window, a new policyholder can decide to decline the coverage and still recieve a full refund of premiums, without penalty. Some insurers will even allow a longer window (so check your policy).

Pennsylvania law also requires insurance companies to allow a 30-day grace period on late premium payments. An insurer cannot cancel a life insurance policy during this grace period, and coverage will continue uninterrupted so long as the account is brought current.

And while the claims procedure for life insurance in Pennsylvania varies from company to company, settlements should be made in a timely manner. The proceeds on late settlements may begin accruing interest.

However, Pennsylvania law extends some protections to insurers, too. Consumer misrepresentation on a policy or application, if discovered within the first two years of the policy, can result in its cancellation. The insurer won't be obligated to honor any claims. (Though paid premiums will be refunded.)

The misstatement of policyholder age can be discovered at any point during the policy's life, and will result in the recalculation of benefits.

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If you are ready to apply for a Pennsylvania term life insurance policy, or if you just want a quick online quote, visit Efinancial now.
If you are not sure about what type of life coverage you want, you can also try InsureME. They will put you in touch with agents who can answer any questions that you might have.

The Pennsylvania Life Insurance Guaranty

Licensed insurance companies in Pennsylvania pay annual fees to the Pennsylvania Life and Health Insurance Guaranty Association. This organization is designed to protect insurance consumers, like you, by helping cover policies lost through insurance company insolvency.

However, there are restrictions on this protection. In Pennsylvania the compensation for lost death benefits is limited to $300,000, and compensation for lost cash surrender is limited to $100,000. These limits apply even in the event of multiple policies with a higher total coverage.

And your insurer must be licensed in Pennsylvania to qualify for the guaranty's backing. To check the status of an insurer, you can call the Consumer Hotline at (877) 881-6388.

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Apply for a quote with confidence at Efinancial
(for Pennsylvania term life insurance), or InsureME.
Your insurer will be licensed in Pennsylvania.

More PA life insurance help

If you want more help getting the best value on your PA life insurance policy, start with our guide to term life insurance or sign-up for our free life insurance course (see below).

To find out more about PA life insurance laws and regulations, visit the official website of the Pennsylvania Insurance Department,

Learn even more:

Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process.

Our free life insurance course is designed to help you do just that.

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